I did post something like this on another forum but didn't get much traction, therefore, i'll try here:) I'm establishing a Private Fund (not a syndication) to raise capital to purchase multifamily investment properties. My investor profile will be Accredited only. Funds target $3M and less than 30 investors. I'm setting up the paperwork now and have just been informed that I need a registered RIA (Registered Investment Advisor). Do you have any recommendations?
Also, has anybody set up a Fund with this requirement? I keep getting conflicting info on it being necessary or not. But my attorney has shared the Dodd Frank law that states we need one: "private funds now have to comply with the exemption in Section 3(c)(1) under the Dodd-Frank Act"
Any help, feedback or recommendations are welcomed.